Day: November 13, 2023

Bitcoin mining difficulty reached new maximum

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As a result of the next recalculation, the difficulty of Bitcoin mining increased by 3.55%. The indicator updated its maximum at 64.68 T, according to BTC.com. The average hashrate since the previous value change was 479 EH/s. The range between blocks is just over 9.5 minutes. BTC.com According to Glassnode, the smoothed 7-day moving average peaked at 475.9 EH/s on Nov. 5. After this, it has corrected. It is 454.9 EH/s, at the time of writing. Source: Glassnode According to the Hashrate Index, over the past 24 hours, the hash price…

Bybit Card adds new user bonus amid Binance crypto card closure in EU

European residents can now opt for a Bybit Card for their crypto-to-fiat conversion following the launch of a new incentive scheme. The program incorporates three welcome bonuses tailored for new users signing up for a Bybit Card. This Bybit Mastercard announcement coincided with Binance discontinuing its Visa card services for EU residents within the same week. Competition for crypto debit cards is heating up  Competition among debit card issuers has a long history, extending back decades. In the crypto era, the importance of virtual and physical cards to digital asset…

Yield-Bearing Stablecoin Midas Backed by US Treasuries to Introduce stUSD Token

The newly introduced Midas stablecoin, set to integrate with DeFi platforms in the current quarter before a retail launch early next year in 2024. Midas, a stablecoin backed by US Treasuries, plans to join the growing trend of convergence between cryptocurrency and traditional finance. The project plans to introduce its stUSD token to decentralized finance (DeFi) platforms such as MakerDAO, Uniswap, and Aave in the upcoming weeks. The Midas stablecoin initiative aims to acquire Treasuries through asset manager BlackRock, utilizing Circle Internet Financial’s USDC stablecoin as an on-ramp, as outlined in…

Arthur Hayes Unveils Playbook For Bitcoin, Crypto And Big Tech

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In his latest essay, Arthur Hayes, the co-founder of BitMEX, has laid out his investment playbook in the current global economic landscape, focusing on the potential of Bitcoin, cryptocurrencies, big tech, and traditional financial markets. Dumb Trades Hayes begins with a blunt critique of traditional investment strategies, particularly the purchase of long-term bonds in the current economic climate. He explicitly states, “The dumbest thing one can do is purchase long-term bonds with a buy-and-hold mentality.” Hayes explains this viewpoint by highlighting the risks associated with these bonds, especially when liquidity…

South Korean Crypto Exchange Bithumb Aims to Go Public by 2025

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South Korea’s Bithumb is preparing to become the first cryptocurrency exchange in the country to be a publicly listed company, according to multiple local media reports. Interestingly, the listing aims not to raise funds but to enhance market trust in its operations. “Our IPO is not about raising funds,” a Bithumb official said today (Monday). “Many people have doubts about cryptocurrency exchanges because they perceive them as not being transparent [and the aim is to tackle that].” Indeed, the crypto exchange had over 400 billion won ($302 million) in financial…

Peter Schiff Predicts Bitcoin Crash as US ETF Frenzy Gets Slowly Priced In despite High Optimism

While Peter Schiff thinks Bitcoin price will crash before the ETF launch in the United States, analysts at AllianceBernstein issued a prediction of $150k in 2025 driven by the halving event and institutional inflows. The recent Bitcoin (BTC) breakout has significantly raised investors’ optimism for a continued bullish trend in the coming weeks toward the end of the year. Already, the altcoin market led by Ethereum (ETH), Solana (SOL), and Chainlink (LINK) has made significant gains in the past few days suggesting the bulls are in control. However, Peter Schiff,…

Cardano Founder Wants to Partner with Kraken, Here’s Why

For many crypto firms that are currently exploring layer-2, they have found that it opens up potential new revenue streams.  Charles Hoskinson, the founder of Cardano blockchain may be eyeing a potential partnership with top US crypto exchange Kraken. This follows after Kraken announced that it plans to improve its technological capabilities, admitting that it would need the help of a blockchain developer to do so. Although many notable contenders have also signalled their interest in partnering with Kraken, Hoskinson may be the latest in line. He expressed his interest…

ADA Price Gains Over 52% in 4 Weeks despite Notable Cardano Network Upgrade Delays

Cardano Foundation CEO Frederik Gregaard recently noted that the development of the smart contract-enabled ecosystem has been slow due to the high academic approach, which has been considered boring but important. Amidst the ongoing altcoin breakout fueled by the optimism revolving around the Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in the United States, Cardano (ADA) has been among the best-performing top-rated altcoins and demonstrated very positive price trends. Backed by a vibrant community of Decentralized Finance (DeFi) developers and investors, the Cardano network has grown to a mature…

KLAY emerges as top gainer, open interest hits 11-week highs

KLAY, the native token of the gamefi project Klaytn, has emerged as the top gainer among the top 100 cryptocurrencies as its open interest rises.  KLAY is up by 22% in the past 24 hours and is trading at $0.181 when writing. Its market capitalization rose to around $590 million, making it the 80th largest crypto asset. Klaytn’s 24-hour trading volume surged by 333%, reaching $84 million. KLAY price, social volume, open interest and development activity – Nov. 13 | Source: Santiment According to Santiment, KLAY’s total open interest (OI)…